When the cross elasticity of demand between two goods is __________, the goods are __________.

The market demand curve in a perfectly competitive market is

Exhibit 22-3 ​ (1) (2) (3) Price Quantity Sold Total Cost $7 40 $274 $7 41 $276 $7 42 $280 $7 43 $285 $7 44 $292 $7 45 $302 $7 46 $314 $7 47 $329 ​Refer to Exhibit 22-3. What quantity of output should the profit-maximizing firm produce?

Exhibit 22-8 ​ Refer to Exhibit 22-8. Which of the following is true in the short run of firms A and B, two perfectly competitive firms?

Exhibit 22-8 ​ Refer to Exhibit 22-8. What is the total variable cost of firm A at the profit-maximizing (or loss-minimizing) level of production?

Exhibit 23-7 Refer to Exhibit 23-7. The maximum profits earned by a single-price monopolist producing good X are

Under perfect competition, which of the following are equal at all levels of output?

Exhibit 24-9 ​ Market Structure Number of Sellers Type of Product Barriers to Entry Perfect competition (A) (D) (H) Monopolistic Competition (B) (E) (I) Oligopoly (C) (F) (J) Monopoly one (G) (K) ​ ​Refer to Exhibit 24-9. The number of sellers in a perfectly competitive market is ___________ , the number of sellers in a monopolistic competitive market is ____________ , and the number of sellers in an oligopoly is _________ .

A union may attempt to obtain stricter certification requirements or longer apprenticeships. These changes would raise workers’ wages because they:

Airlines that try to lower fares in order to increase revenue must believe that the demand for airline service is